Drilling Extends High Grade Rutile at Bua Channel to +8km Length
(firmenpresse) -
Sovereign Metals Limited (the Company or Sovereign) is pleased to report that latest drilling results from the sand-hosted Bua Channel have extended the known, high-grade rutile mineralisation to +8km channel length.
HIGHLIGHTS
- Drilling continues to confirm and extend the high-grade, rutile dominant, sand-hosted, Bua Channel placer deposit within the emerging Malawi Rutile Province
- Air-core and hand-auger drilling results have extended rutile mineralisation to over 8km length
- Second phase air-core results (37 holes) include;
o 7m (at) 0.86% rutile, 1.4% ilmenite & 0.08% zircon (from surface)
o inc. 3m (at) 1.05% rutile, 1.7% ilmenite & 0.09% zircon (from 4m)
o 5m (at) 0.80% rutile, 1.3% ilmenite & 0.07% zircon (from 4m)
o inc. 1m (at) 1.11% rutile, 1.8% ilmenite & 0.10% zircon (from 8m)
o 4m (at) 1.11% rutile, 1.8% ilmenite & 0.10% zircon (from 4m)
o inc. 1m (at) 1.36% rutile, 2.3% ilmenite & 0.12% zircon (from 7m)
- Second phase hand-auger results (49 holes) include;
o 6m (at) 1.09% rutile, 1.6% ilmenite & 0.13% zircon (from surface)
o inc. 4m (at) 1.28% rutile, 1.9% ilmenite & 0.15% zircon (from 2m)
o 6m (at) 0.85% rutile, 1.2% ilmenite & 0.11% zircon (from surface)
o inc. 4m (at) 1.00% rutile, 1.4% ilmenite & 0.12% zircon (from 2m)
o 6m (at) 0.70% rutile, 1.0% ilmenite & 0.11% zircon (from surface)
o inc. 4m (at) 0.80% rutile, 1.1% ilmenite & 0.12% zircon (from 2m)
- The Bua Channel is geologically well defined over a total length of ~50km. Planning and permitting for a drilling program to test the remaining ~42km length of the channel is in progress
- Extensional and in-fill drilling continues at the saprolite-hosted Kasiya Prospect with additional sample batches already in Perth (Phase 3) for laboratory analysis and in transit (Phase 4)
Sovereigns Managing Director Dr Julian Stephens commented:
These new results from the Bua Channel are very encouraging and continue to confirm the extensive potential of the Bua Channel. The remaining significant upside with over 40km of channel length to be explored places the Company in an exciting position. We are very much looking forward to unlocking what we believe is a globally significant, strategic rutile province in Malawi, as we continue to advance the large, high-grade saprolite-hosted Kasiya Prospect and the sand-hosted Bua Channel Prospect.
ENQUIRIES
Dr Julian Stephens (Perth)
Managing Director
+61(8) 9322 6322
Sam Cordin (Perth)
+61(8) 9322 6322
Sapan Ghai (London)
+44 207 478 3900
BUA CHANNEL DRILL PROGRAM
A total of 57 shallow hand-auger holes for 364m and 54 deeper air-core holes for 473m were drilled at Bua Channel in late 2019. The final 49 hand-auger and 37 air-core hole results for this program are reported. Both sets of results have returned excellent grades of rutile and high-quality ilmenite (~60% TiO2) over the southern ~8km of the Bua Channel.
QEMSCAN mineralogy test-work shows clean and liberated rutile grains. Additionally, QEMSCAN shows the ilmenite to be very high quality with a TiO2 content of ~60%, indicating it may be suitable as chloride feedstock.
https://www.irw-press.at/prcom/images/messages/2020/51590/200422 Bua AC and HA results April 2020_FINAL_PRCOM.001.png
Figure 1. Map showing drilling locations across the southern 8km of the Bua Channel Prospect.
Sovereign has confirmed sand-hosted, placer rutile mineralisation via drilling in the southern Bua Channel over approximately 8km length with widths ranging from 300m to 700m and mineralised sand thicknesses ranging from about 4m to 10m.
The drilling programs completed to date have provided high-grade rutile and accessory ilmenite across the entire 8km of the southern channel. Results from the second phase of drilling are outlined below with the complete set of results presented in the Table 1.
Second phase air-core results (37 holes) include;
- 7m (at) 0.86% rutile, 1.4% ilmenite & 0.08% zircon (from surface)
inc. 3m (at) 1.05% rutile, 1.7% ilmenite & 0.09% zircon (from 4m)
- 5m (at) 0.80% rutile, 1.3% ilmenite & 0.06% zircon (from 4m)
inc. 1m (at) 1.11% rutile, 1.8% ilmenite & 0.10% zircon (from 8m)
- 4m (at) 1.11% rutile, 1.8% ilmenite & 0.10% zircon (from 4m)
inc. 1m (at) 1.36% rutile, 2.3% ilmenite & 0.12% zircon (from 7m)
Second phase hand-auger results (49 holes) include;
- 6m (at) 1.09% rutile, 1.6% ilmenite & 0.13% zircon (from surface)
inc. 4m (at) 1.28% rutile, 1.9% ilmenite & 0.15% zircon (from 2m)
- 6m (at) 0.85% rutile, 1.2% ilmenite & 0.11% zircon (from surface)
inc. 4m (at) 1.00% rutile, 1.4% ilmenite & 0.12% zircon (from 2m)
- 6m (at) 0.70% rutile, 1.0% ilmenite & 0.11% zircon (from surface)
inc. 4m (at) 0.80% rutile, 1.1% ilmenite & 0.12% zircon (from 2m)
https://www.irw-press.at/prcom/images/messages/2020/51590/200422 Bua AC and HA results April 2020_FINAL_PRCOM.002.jpeg
Figure 2. Cross-section showing air-core and hand-auger drilling results and rutile mineralisation at the Bua Channel.
A significant, +40km potential extension was identified to the north by the field team and this ground was secured with a new exploration licence granted in January 2020. Planning for a drilling program on the newly granted ground is porgressing with timing controlled by the cessation of the Covid-19 lock-down in Malawi.
https://www.irw-press.at/prcom/images/messages/2020/51590/200422 Bua AC and HA results April 2020_FINAL_PRCOM.003.png
Figure 3. Map showing the Bua Channel and Sovereigns ground position in the area. Only the southern 8km been drilled to date.
https://www.irw-press.at/prcom/images/messages/2020/51590/200422 Bua AC and HA results April 2020_FINAL_PRCOM.004.jpeg
Figure 4. Drone photograph of the Bua Channel
FORWARD PLAN
Sovereign has identified a potentially globally significant, strategic rutile province across its large Malawi ground holding. The Malawi Rutile Province features two confirmed, discrete rutile mineralisation styles hosted respectively in sand and saprolite (soft, friable weathered material) which are both amenable to conventional processing. Rutile mineralisation identified to date has generally not been spatially constrained by drilling at either of the two main prospects, Kasiya (saprolite) and the Bua Channel (sand).
The Company is targeting large resources that could support long-life, large-scale rutile production. Sovereigns ongoing rutile work programs to unlock the Malawi Rutile Province include:
- Extensional and in-fill drilling at Kasiya continues with additional sample batches already in Perth, Australia (Phase 3) for laboratory analysis and in transit (Phase 4)
- Sovereign is working towards a significant maiden rutile Mineral Resource in late Q3 2020
- Mining and tailings studies commenced to accelerate a future scoping study
- Bulk-scale metallurgical test-work with sampling at Kasiya currently underway
- Continued regional exploration across the Companys large ground holding
COVID-19 IMPACT AND RESPONSE
The Company is proactively managing the potential impact of Covid-19 with the health and safety of our employees, contractors, local communities and other stakeholders being the highest priority. The Company took the precautionary step to temporarily suspend activities at its Lilongwe facilities.
The Malawian Government has announced a country-wide lock-down, at this stage to be effective from 25 April 2020 for a period of 21 days. Sovereign will suspend its drilling activities during this period to comply with the protocols set out by the Government of Malawi.
The Company is continuously monitoring the situation and will re-mobilise drill teams at the completion of the lock-down if it is considered safe to do so.
Laboratory processing and analysis of sample batches is continuing and the Company looks forward to reporting these to the market in coming weeks.
Please follow the link to view entire news release including results:
https://www.asx.com.au/asxpdf/20200422/pdf/44h4l30vbcn0xc.pdf
Competent Persons Statements
The information in this report that relates to Exploration Results and QEMSCAN results are based on information compiled by Dr Julian Stephens, a Competent Person who is a member of the Australian Institute of Geoscientists (AIG). Dr Stephens is the Managing Director of Sovereign Metals Limited and a holder of ordinary shares and unlisted options in Sovereign Metals Limited. Dr Stephens has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the ''Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves''. Dr Stephens consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Forward Looking Statement
This release may include forward-looking statements, which may be identified by words such as "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These forward-looking statements are based on Sovereigns expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Sovereign, which could cause actual results to differ materially from such statements. There can be no assurance that forward-looking statements will prove to be correct. Sovereign makes no undertaking to subsequently update or revise the forward-looking statements made in this release, to reflect the circumstances or events after the date of that release.
This ASX Announcement has been approved and authorised for release by the Companys Managing Director, Julian Stephens.
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Datum: 22.04.2020 - 01:03 Uhr
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